Bellecapital International Ltd. Purchases 928 Shares of Broadcom Inc. (NASDAQ:AVGO)

Bellecapital International Ltd. increased its position in Broadcom Inc. (NASDAQ:AVGO) by 29.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,115 shares of the semiconductor manufacturer’s stock after buying an additional 928 shares during the quarter. Bellecapital International Ltd.’s holdings in Broadcom were worth $689,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of AVGO. Sterling Financial Group Inc. grew its holdings in shares of Broadcom by 9.1% during the 1st quarter. Sterling Financial Group Inc. now owns 1,888 shares of the semiconductor manufacturer’s stock valued at $316,000 after purchasing an additional 158 shares during the last quarter. Defined Financial Planning LLC boosted its position in Broadcom by 37.3% during the first quarter. Defined Financial Planning LLC now owns 3,651 shares of the semiconductor manufacturer’s stock valued at $615,000 after buying an additional 991 shares during the period. Yarger Wealth Strategies LLC grew its stake in shares of Broadcom by 7.8% during the first quarter. Yarger Wealth Strategies LLC now owns 1,955 shares of the semiconductor manufacturer’s stock valued at $327,000 after buying an additional 142 shares during the last quarter. Davis Investment Partners LLC increased its holdings in shares of Broadcom by 17.6% in the first quarter. Davis Investment Partners LLC now owns 1,622 shares of the semiconductor manufacturer’s stock worth $289,000 after buying an additional 243 shares during the period. Finally, Greenwood Capital Associates LLC lifted its stake in shares of Broadcom by 18.2% in the 1st quarter. Greenwood Capital Associates LLC now owns 55,554 shares of the semiconductor manufacturer’s stock valued at $9,301,000 after acquiring an additional 8,559 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Trading Up 3.4%

NASDAQ:AVGO opened at $252.91 on Thursday. The firm has a market capitalization of $1.19 trillion, a P/E ratio of 206.29, a PEG ratio of 2.29 and a beta of 1.11. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. Broadcom Inc. has a one year low of $128.50 and a one year high of $265.43. The company’s 50-day simple moving average is $209.12 and its 200 day simple moving average is $207.94.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.57 by $0.01. The company had revenue of $15 billion during the quarter, compared to analyst estimates of $14.98 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The firm’s revenue for the quarter was up 20.2% on a year-over-year basis. During the same quarter last year, the company earned $10.96 EPS. As a group, analysts forecast that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom announced that its Board of Directors has initiated a stock buyback program on Monday, April 7th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor manufacturer to buy up to 1.4% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 20th will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.93%. The ex-dividend date of this dividend is Friday, June 20th. Broadcom’s dividend payout ratio (DPR) is currently 88.39%.

Insider Buying and Selling

In other Broadcom news, insider Mark David Brazeal sold 25,000 shares of the business’s stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $180.00, for a total value of $4,500,000.00. Following the completion of the transaction, the insider now owns 465,956 shares of the company’s stock, valued at approximately $83,872,080. The trade was a 5.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Henry Samueli sold 663,976 shares of the firm’s stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the sale, the director now directly owns 38,798,721 shares in the company, valued at approximately $7,045,847,733.60. The trade was a 1.68% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 720,576 shares of company stock worth $131,249,694 in the last three months. Insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on AVGO shares. Erste Group Bank upgraded Broadcom from a “hold” rating to a “buy” rating in a report on Thursday, June 5th. KeyCorp boosted their price objective on Broadcom from $260.00 to $275.00 and gave the company an “overweight” rating in a research report on Friday, March 7th. JPMorgan Chase & Co. raised their target price on shares of Broadcom from $250.00 to $325.00 and gave the stock an “overweight” rating in a report on Friday, June 6th. Mizuho lifted their target price on shares of Broadcom from $300.00 to $310.00 and gave the stock an “outperform” rating in a research note on Friday, June 6th. Finally, Morgan Stanley increased their price target on shares of Broadcom from $260.00 to $270.00 and gave the company an “overweight” rating in a research report on Friday, June 6th. Two research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $272.71.

Broadcom Company Profile

Broadcom Inc designs, develops, and supplies various semiconductor devices with a focus on complex digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products worldwide. The company operates in two segments, Semiconductor Solutions and Infrastructure Software.